Breaking The Mould
Reimagining India's Economic Future
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India is at a crossroads today. Its growth rate, while respectable relative to other large countries, is too low for the jobs our youth need. Intense competition in low-skilled manufacturing, increasing protectionism globally and growing automation make the situation still more difficult. Divisive majoritarianism does not help. India broke away from the standard development path--from agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, services--a long time back by leapfrogging the intermediate steps. Rather than attempting to revert to development paths tha...
India is at a crossroads today. Its growth rate, while respectable relative to other large countries, is too low for the jobs our youth need. Intense competition in low-skilled manufacturing, increasing protectionism globally and growing automation make the situation still more difficult. Divisive majoritarianism does not help. India broke away from the standard development path--from agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, services--a long time back by leapfrogging the intermediate steps. Rather than attempting to revert to development paths that may not be feasible any more, we must embark on a truly Indian path.
